• Tron price extends its rally on Monday, after printing four consecutive weeks of rally.
• Tron Inc. acquired 156,819 TRX tokens on Monday, increasing its TRX treasury holdings to more than 689.1 million TRX in total.
• On-chain data and technical outlook suggest further gains targeting $0.336 TRX.

Tron (TRON) extends its upward move, trading above $0.320 as of writing on Monday after soaring for the fourth consecutive week. The bullish sentiment is further strengthened as Tron Inc. added more TRX tokens to its reserves. Meanwhile, on-chain data and price action suggest further gains for TRX in the coming days.

Tron Inc. adds more TRX, boosts sentiment

Tron Inc., listed on NASDAQ as TRON, formerly known as SRM Entertainment, Inc., announced on Monday that it had acquired 156,819 TRX tokens, following 158,848 TRX acquired the previous day. The firm’s total holding following this latest purchase is 689.1 million TRX. 

“The company aims to further grow its Tron Digital Asset Treasury (DAT) holdings to enhance long-term shareholder value,” said Tron Inc in its X post.

If these accumulations continue and grow, they could support the native token TRX in the long term by enhancing adoption and reducing circulating supply, thereby increasing its price.

On-chain data supports bullish bias

CryptoQuant’s summary data supports the positive outlook, as TRX’s spot markets show large whale orders and cooling conditions; moreover, both markets show buy dominance, all of which signal a potential upside move.

Moreover, DefiLlama data shows that Tron’s stablecoin market capitalization has reached a new all-time high of $86.81 billion on March 17 and has been steady at around $86.22 billion on Monday. Rising stablecoin market capitalization and increasing network activity suggest growing confidence and interest within the Tron ecosystem, adding credence to the bullish outlook.

Tron Price Forecast: TRX bulls aiming for higher levels

Tron price is trading above $0.323 as of Monday after extending four straight weeks of rally. The near-term bias is bullish after the pair broke above the descending resistance line from $0.354 and now holds above the 50-day, 100-day, and 200-day Exponential Moving Averages, clustered around $0.290. 

Momentum remains firm, with the Relative Strength Index (RSI) on the daily chart at 71 in overbought territory and the Moving Average Convergence Divergence (MACD) line staying above its signal line in positive territory, which reinforces upward pressure despite stretched conditions.

TRX price also trades above the 50% retracement at $0.318 and is approaching the 61.8% retracement at $0.331, measured from the $0.370 high to the $0.268 low, underscoring a market that is pressing higher within an emerging bullish phase.

Initial support aligns with the prior horizontal floor at $0.318, near the 50% retracement at $0.319, with a deeper pullback exposing the 38.2% retracement at $0.307 and then the 23.6% retracement near $0.292, where the rising exponential moving averages reinforce a broader demand zone. 

On the topside, immediate resistance lies at the 61.8% retracement at $0.331, followed by the horizontal cap at $0.336; a sustained breakout above these barriers would open the way toward the former swing high region near $0.370.

(The technical analysis of this story was written with the help of an AI tool.)